Toast, Inc. (NYSE:TOST) Receives $37.62 Average Target Price from Brokerages

Toast, Inc. (NYSE:TOST) has been given a consensus recommendation of “Moderate Buy” by the twenty-seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $37.6154.

TOST has been the subject of a number of recent analyst reports. BMO Capital Markets restated an “outperform” rating on shares of Toast in a report on Monday, June 1st. Truist Financial decreased their target price on Toast from $36.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. DA Davidson decreased their target price on Toast from $33.00 to $28.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. Loop Capital initiated coverage on Toast in a report on Tuesday, March 31st. They set a “hold” rating and a $26.00 target price for the company. Finally, Piper Sandler initiated coverage on Toast in a report on Wednesday, June 10th. They set an “overweight” rating and a $32.00 target price for the company.

Toast Stock Performance

Shares of TOST stock opened at $25.02 on Friday. The company has a market capitalization of $12.91 billion, a P/E ratio of 38.49 and a beta of 1.76. The stock has a 50 day moving average price of $25.92 and a two-hundred day moving average price of $29.43. Toast has a fifty-two week low of $22.26 and a fifty-two week high of $49.66.

Insider Activity at Toast

In related news, President Stephen Fredette sold 7,289 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $190,898.91. Following the completion of the transaction, the president owned 920,985 shares in the company, valued at $24,120,597.15. This represents a 0.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Jonathan Vassil sold 6,438 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $168,611.22. Following the transaction, the executive owned 146,618 shares of the company’s stock, valued at approximately $3,839,925.42. This represents a 4.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 147,783 shares of company stock valued at $3,838,037 over the last 90 days. Company insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On Toast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TOST. NewEdge Advisors LLC grew its stake in Toast by 1,555.5% in the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after purchasing an additional 16,379 shares during the period. Cerity Partners LLC grew its stake in Toast by 24.0% in the second quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock worth $3,613,000 after purchasing an additional 15,774 shares during the period. State Street Corp grew its stake in Toast by 2.7% in the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after purchasing an additional 245,276 shares during the period. Frontier Capital Management Co. LLC purchased a new stake in Toast in the second quarter worth $4,479,000. Finally, Sei Investments Co. grew its stake in Toast by 24.6% in the second quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock worth $45,619,000 after purchasing an additional 203,404 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.